While a dominant institutional brand can be a powerful driver of growth, overreliance on a single entity may limit a community’s broader economic potential. TIP’s recent strategic planning work in College Station, Texas, illustrates how communities—particularly university towns—can leverage world-class institutions while cultivating a distinct local identity that attracts and retains talent, businesses, students, and visitors alike.
When it comes to improving a community’s innovation assets, economic development practitioners can do only so much to influence postsecondary science and engineering programs or to increase the presence of venture capital firms. Supporting R&D-focused small businesses through the process of accessing federal SBIR/STTR dollars is a strategy that fits squarely within the realm of business and economic development.
Accessible Innovation Capital: SBIR & STTR Programs Read More
While it is often overlooked, placemaking has emerged as an essential factor in building successful innovation ecosystems. Erica Colston’s latest post explores two innovation hubs—North Carolina’s Research Triangle Park and Pegasus Park in Dallas, Texas—to illustrate how placemaking strategies have adapted to succeed in today’s innovation environment.
